StoneCastle FICA

Date: 2020

Asset Class: Cash

Description:  The Federally Insured Cash Account (FICA®) is StoneCastle Cash Management's proprietary cash management vehicle offering a high (multimillion dollar) level of federal deposit insurance, next day liquidity and a competitive yield. FICA can spread its deposits across up to hundreds of carefully screened community banks via a single, convenient account to provide higher than otherwise federal deposit insurance.

Why We Invest: FICA Impact program is allocating deposits to the banks that are most likely to lend money to local small businesses and other community members. This allows for impact with our cash, federal insurance beyond the normal maximum for a single account, and daily liquidity while getting a small but competitive yield.